Australia currently has a progressive tax system whereby high income earners pay a higher percentage of tax than low income tax. A more progressive income tax system has been proposed as a tool towards reducing wealth inequality.
Increasing taxes on the rich forces them to take their money overseas where the government can't get it. We should incentivise rich individuals to spend their money here while cracking down on loopholes that allow massive corporations to pay nothing in tax
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To some degree probably. There should probably be a tax exempt bracket at the lower income end as well though.
Alternatively (though I think less viable to implement) you can have a high flat tax and then you get greater tax reductions/exemptions the lower your income is.
I think that tax on larger corporations and the rich should only be raised if they do not make an active participation to support the country or local area, the sum should not have to be as large as the tax that would be placed on them. E.g. fund a certain park, or invest in a school etc. Because I feel like the government and especially the public sector spends money poorly. Plus this would require companies and rich families to be more down to earth and helping the community.
Yes, but should change all tax brackets/add new ones - should still have tax (low) for low-income, but lower the entry 6 figure bracket and move the ~39% tax bracket to higher income. Can maybe add higher bracket for extreme income figures.
Lower income tax rates. Remove GST on fresh produce, goods that are a requirement for healthy lifestyle (fridge etc) remove GST from an type of excise tax. Raise GST on goods luxuries, electronics, vehicles etc.
lower the tax rate for the lower and middle class due to the huge increases in the cost of living and change it so you get charged one lot of tax off your pay even if it is a larger sum, then putting so much tax on petrol and food ect, and tax corporations and the wealthy a lot more.
Increase taxes for people who works in industries that cost more harm to the environment, or exploiting cheap overseas workers. Add taxes for people who are renting a whole house then secondhand renting it to others for profit.
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